**80s Heritage Diesel Locomotives Ltd Annual Report and Unaudited Financial Statements For the year ended 31 May 2025** Page 1 CONTENTS ||**Page**| |---|---| |**Trustees’ Annual Report**|**3**| |**Examiners’ Report**|**11**| |**Statement of Financial Activities**|**12**| |**Balance Sheet**|**13**| |**Notes to the Financial Statements**|**14**| Page 2 ’ – TRUSTEES ANNUAL REPORT PERIOD END: 31[ST] MAY 2025 |Period start
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1 REFERENCE ANDADMINISTRATIONDETAILS|Period start
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1 REFERENCE ANDADMINISTRATIONDETAILS||||||||| |---|---|---|---|---|---|---|---|---|---| ||||Period start||date||Period end date||| ||||Day|Month|Year||Day|Month|Year| |||From|01|06|2024|To|31|05|2025| ||||||||||| |**Charity name**
**Other names charity is known by**
**Registered charity number**
**Registered company number**
**Charity’s principal address**
**Bankers**|||||||||| ||80s Heritage Diesel Locomotives Ltd||||||||| ||80sHDL||||||||| ||SC050338||||||||| ||SC662252||||||||| ||Blockhouse||||||||| ||Bourtie||||||||| ||Inverurie||||||||| ||Aberdeenshire|||||Postcode: AB51 0JU|||| ||||||||||| ||The Royal Bank of Scotland PLC
Inverurie Branch
Cartsdyke Avenue,
Cartsburn East
Greenock
PA15 1EF||||||||| 2 NAMES OF THE CHARITY TRUSTEES ON DATE OF APPROVAL OF TRUSTEES’ ANNUAL REPORT ||**Trustee name**|**Office (if any)**|**Dates acted if**
**not for whole year**|**Name of person (or body) entitled**
**to appoint trustee (if any)**| |---|---|---|---|---| |**1**|Jonathan GILL|Director||| |**2**|Steven LOW|Director||| |**3**|Laura McGREGOR|Director||| |**4**||||| |**5**||||| |**6**||||| |**7**||||| |**8**||||| Page 3 808Herftage L£urnotfves 80s Heritage Diesel Locomotives: Preserving Scotland's Rail Legacy ORGANIZATIONAL FOUNDATION PROFESSIONAL MANAGEMENT SYSTEMS OpprniiansarealignEdwith 1$0 9￿1. 7￿￿1.4nd WOI qU811ty8nd safety stsndards. DRIVEN Ninev4lunieet$ contribuied laborequ￿aIelli I0£217￿001De¢0D0rnrC ' I'llkL 100% VOLUNTEER ESTABLISHED CHARITY STATUS 2020and iegisièrEd as a S¢olli$h ¢héTIry. SPECIALIZED FACILifY DESIGN ENGINEERING & FACILMES PROGRESS Completed design woikfoFfacilthes supportingfuil loCom￿l¥e maintenance andvisitor access. llAII iVifr'_, CRITICAL SPARES ACQUISITION TRAINING & DEMONSTRATION READY Sevjred a varleiy of esserfial herftage locomoii¥e spares and con8umable$ forlong-teim support. mainten8nce. ¥olunleertraining. and publicdemon5tialions. ## 3 STRUCTURE, GOVERNANCE AND MANAGEMENT ## 3.1 TYPE OF GOVERNING DOCUMENTS The Charity is a company limited by guarantee (Company Number SC662252), incorporated on 26[th] May 2020 and registered as a charity since 30[th] July 2020. The company is governed under its Articles of Association. Decision making is controlled by the board of Directors through regular meetings and also appointing delegated managers to parts of the organisation as required and as set out in our Articles of Association. ## 3.2 INDUCTION AND TRAINING OF TRUSTEES Selection of Directors is controlled by the terms of the Articles of Association. Directors are appointed at an Annual General Meeting, subject to a quorum being present and voting in their favour (with other applicable terms as identified in the articles). Typically, Directors would be expected to have already demonstrated capabilities that make them suitable for the role or a willingness and commitment to develop. The Board of Directors may invite individuals to attend some or all board meetings for a time as Observers to give both parties an opportunity to determine if there is a suitable fit. The Board may from time to time select to co-opt individuals to the board until the following AGM. Private individuals can become Members of the Company on the basis of a demonstrable interest in some or all of the Objectives and Purposes of the Company. The Charity has developed training resources for all Directors of the Company which must be completed by all Directors. These are delivered through our online training and competency system. This includes training delivery and online assessment, the results of which are recorded – this requires routine renewal. The course content includes: Understanding the Charity’s Articles of Association; Legal Obligations under Company Law and Scottish Charity Law; Legal Obligations to the Office of Rail and Road; Legal Health and Safety Obligations; Management Systems Overview and Requirements – Quality, Environmental & Occupational Health; Financial Responsibilities; Anti-Bribery and Corruption; Discrimination, Bullying and Safeguarding; The importance of Records and Record Keeping; Interpersonal Relationships, and; Volunteer Responsibilities. 3.3 VOLUNTEERS Operating a Charity of this nature with all the associated services is a considerable and complex undertaking. These services are delivered exclusively by volunteers and they perform all roles from Board of Directors to Engineer and administrator. Some of our volunteers hold similar positions in private and public sector employment. To satisfy the UK Government Office of Rail and Road, we operate within the same standards as the mainline rail network and require similar training and competency management systems in place for our volunteers where this is appropriate. 9 volunteers contributed to the success of the Charity in the period in a combination of full time and part roles. The economic contribution of these roles was equivalent to £217k. ## 3.4 RELATED PARTIES The Charity maintains a register of interests for all related parties. This is reviewed annually as part of the management review process and Trustees are required to notify immediately upon any change of circumstances that may affect this. This is used to record all Primary and Secondary Related Parties to ensure Page 5 any transactions with these Related Parties (particularly Secondary Related Parties) is recognised when considering any transactions. There were no Charities or Businesses considered to be Related Parties during the period. The Charity is entirely volunteer run and as a result there are no payments made for salaries, pension contributions etc. Travel and subsistence can be paid from time to time to Related Parties, but this is follows standard processes for selection and payment at HMRC recognised rates. Donations by Related Parties are also not individually disclosed unless subject to unusual restrictions or conditions. 4 OBJECTIVES AND ACTIVITIES 4.1 CHARITABLE PURPOSE The company’s Charitable Objects are: (a): The advancement of the arts, heritage, culture or science through the acquisition, restoration, preservation, operation and display for the public benefit of British diesel rail traction in a condition that was commonly operated by British Rail and others in Scotland during the 1980s. (b): The advancement of education, available to the public, through the development of formalised training and awareness delivered through assessed formal online training and ‘hands-on’ training and mentoring from experienced and competent professionals. This will include the development and storage for access of reference material from historic technical documents and observations for maintenance and operation of aforementioned rail traction. 4.2 SUMMARY OF THE MAIN ACTIVITIES IN RELATION TO THESE OBJECTIVES 4.2.1 Identify, acquire and restore locomotives Acquisition of the rolling stock is critical to all of the charitable objects. Spares are also secured for long-term support. This may be achieved by purchasing an additional ‘abandoned’ locomotive or by securing loose spares. 4.2.2 Agree maintenance, storage and operation location Securing a heritage rail location where the locomotives can be stored, maintained and operated is a further important requirement for the Charity’s success. Locomotives and rolling stock may be moved between heritage railways to increase the Charity profile. 4.2.3 Develop storage & maintenance facilities To ensure that locomotives can be stored and maintained for operational use, it will be necessary to construct suitable maintenance facilities. A large number of preserved locomotives suffer from open air storage resulting in progressive corrosion and other issues. As well as ensuring the protection and preservation of the locomotives and associated spares, this area will also provide maintenance facilities for the ongoing Page 6 maintenance work required. This will also include facilities for training and transfer of knowledge from those who helped to design, construct, maintain and operate these locomotives. This will be a critical and time-consuming activity, but will ensure that the correct facilities exist to provide long-term support for the locomotives. The facilities will be highly specialised in nature to ensure that full maintenance activities, training and controlled spares storage can be achieved. ## 4.2.4 Collect and catalogue documentation and drawings Collection of historical documents, scanning and cataloguing is vital both for historical records and future education, but also to ensure the locomotives can be maintained effectively - 4.2.5 Setup management systems and complete company registrations The charity will be setup to the following management standards: 1. ISO 9001:2015 Quality management systems 2. ISO 14001:2015 Environmental management systems 3. ISO 45001:2018 Occupational health and safety management systems 4. Railways and Other Guided Transport Systems (Safety) Regulations 2006 (ROGS) (as specifically applicable to locomotives) - 4.2.6 Setup training and competency system It is important that the organisation can effectively manage the training delivery and training records of members and the general public that undertake training and assessment in specialist historical and current engineering techniques delivered by the charity. To achieve this, an industry standard training and competency management system will be setup. - 4.2.7 Website and social media To ensure the Charity can communicate activities and engage with the general public, it is important that it has an online presence. - 4.2.8 Develop manufacturing capabilities and spares To ensure that the charity can support the locomotives and associated rolling stock a sourcing strategy for spares (both re-engineered and repaired) will be developed. This will be a significant effort but will safeguard the heritage as well as providing training and educational opportunities to pass on valuable skills that would otherwise be lost. Page 7 ## 5 ACHIEVEMENTS AND PERFORMANCE During the period, further significant progress was made in the following areas: Charity Main Objectives Setup and Configuration - a) The management systems continue to be developed and improved to meet the specific needs of the charity. This is driven partly by more detailed audit and review. Consideration is still being given to the need for 3[rd] party approval of the management system. - b) Facilities now allow maintenance, training and demonstration. Works is still required to ensure that safe access can be provided for visitors. - c) A considerable amount of work was undertaken during the period in the design of facilities. This design work included specification and development of facilities that will allow complete maintenance of locomotives and associated equipment, as well as providing suitable access for all visitors. - d) During the period a variety of locomotive spares and consumables were purchased to provide longterm locomotive support. A number of these were unplanned, but became available during the course of the year. The limited opportunities to secure spares for these heritage assets results in having to take advantage of opportunities when they arise. - e) Reviewing condition and cataloguing of spares has not progressed for another year due to other volunteer commitments and focus. - f) Collecting and cataloguing historical artefacts to allow maintenance and communication to the general public. This work has not progressed significantly in the period and there continues to be a backlog of large items that have been prioritised to suit budgetary requirements. Those immediately required to support existing locomotive maintenance are being prioritised. - g) Limited restoration and publicity work has been undertaken during the period due to volunteer commitments. The Charity continues to remain largely immune from the effects of the Cost of Living Crisis due to the manner of funding of major items and fiscal control on project / delivery work. Page 8 6 FINANCIAL REVIEW 6.1 FUNDING REVIEW There has been no change to the funding model in used. Following a previous review of approach as a result of Covid in prior reporting periods, donations continue to be the main source of funding for activities to ensure that the main activities relating to setting up can continue. The approach of minimising overhead and volunteer only operation is considered appropriate to the continued success within the next five-year period. During this period it is expected greater focus will be placed on training income and donations from those able to visit and experience what the charity does. 6.2 BRIEF STATEMENT OF THE CHARITY’S POLICY ON RESERVES Results are given in the Statement of Financial Activities. The Charity, as it currently operates, has no routine overheads, such as facilities or rented tooling, nor any paid staff. All storage and maintenance facilities are provided free of charge, all major tooling is purchased to support the works or rented for short periods as required by project work and when finances allow. All works are undertaken by volunteers. As a result, there is less necessity to maintain reserves as project work can be adjusted to suit available cash with fundraising as appropriate. This position is reviewed by the board based on cashflow requirements. 6.3 DONATED FACILITIES & SERVICES The charity continues to benefit from facilities and services provided free of charge to the charity. There is little risk associated with this arrangement. Page 9 ## 7 DECLARATION The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees Signature Full name Jonathan Gill Position Director Date 25[th] February 2026 Page 10 INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF 80S HERITAGE DIESEL LOCOMOTIVES LTD I report on the accounts of the charity for the year ended 31 May 2025 which are set out on pages 12 to 19. ## **Respective responsibilities of trustees and examiner** The charity’s trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention. ## **Basis of independent examiner’s statement** My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. ## **Independent examiner’s statement** In the course of my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations - to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations have not been met, or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## **Sabaah Arshed MA CA** On behalf of Aberdeen Accountants Limited 3 Scotsmill Gardens Blackburn Aberdeenshire AB21 0GA 24[th] May 2026 Page 11 ## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2025 **Statement of Financial Activities For the year ended 31 May 2025** |Note
**Incoming Resources**
Donations
3
Gift Aid Recovery
Interest receivable
**Total income**
**Resources Expended**
4
Cost of Charitable Activities
Fundraising Costs
Governance Costs
Depreciation
**Total Resources Expended**
**Net Income before transfers**
**Gross transfer between funds**
**Net Movement in Funds**
**Funds brought forward at 31**
**May 2024**
**Funds carried forward at 31 May**
**2025**|**2025**
Unrestricted
Funds
Restricted
Funds
**Total**
£
£
**£**
28,984
-
**28,984**
6,685
-
**6,685**
2
-
**2**
**35,671**
**-**
**35,671**
26,564
-
**26,564**
272
-
**272**
871
-
**871**
6,626
35,316
**41,942**
**34,333**
**35,316**
**69,649**
**1,339**
**(35,316)**
**(33,977)**
**-**
**-**
**-**
**1,339**
**(35,316)**
**(33,977)**
287,656
78,428
**366,084**
**288,995**
**43,112**
**332,107**|**2024**
Unrestricted
Funds
Restricted
Funds
**Total**
£
£
£
209,041
-
**209,041**
37,510
-
**37,510**
67
-
**67**| |---|---|---| |||**246,618**
**-**
**246,618**| |||32,188
-
**32,188**
106
-
**106**
893
-
**893**
4,412
35,316
**39,728**| |||**37,599**
**35,316**
**72,915**| |||**209,019**
**(35,316)**
**173,703**
**-**
**-**
**-**
**209,019**
**(35,316)**
**173,703**
78,637
113,744
**192,381**| |||**287,656**

**78,428**
**366,084**| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Page 12 ## BALANCE SHEET AS AT 31 MAY 2025 |**Balance Sheet**
**As at 31 May 2025**
Note
**Fixed Assets**
7
**Current Assets**
Debtors
8
Cash at Bank & In-Hand
**Current Liabilities**
Creditors: Amounts Falling Due
within One Year
9
**Net Current Assets**
**Net Assets**
**The Funds of the Charity**|Unrestricted
Funds
£|Restricted
Funds
£|**Total**
**£**
**397,274**
**8,089**
**2,515**
10,604
**(75,771)**
**(65,167)**
**332,107**
**332,107**|**2024 Total**
**£**| |---|---|---|---|---| ||271,193
8,089
2,515
10,604
(14,170)
**(3,566)**|126,082
-
-
-
(61,601)
**(61,601)**||**427,646**
**3,323**
**11,158**| |||||**14,481**
**(76,043)**| |||||**(61,562)**| ||**267,627**|**64,480**||**366,084**| |||||| ||**267,627**|**64,480**||**366,084**| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 26 February 2025. J Gill Trustee Company Registration No. SC662252 Page 13 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 - **1** Accounting policies ## Charity information 80s Heritage Diesel Locomotives Ltd is a private company limited by guarantee incorporated in Scotland. The registered office is Blockhouse, Bourtie, Inverurie, Aberdeenshire, AB51 0JU, United Kingdom. ## 1.1 Accounting convention The financial statements have been prepared in accordance with the Charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102 The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## 1.4 Income Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Donated goods are recognised on receipt. These are valued by the directors on the best available market information at the time of receipt. This may include scrap valuation for donated metal goods. Page 14 ## 1 Accounting policies (Continued) ## 1.5 Expenditure All expenditure is included on an accruals basis and is recognised when three is a legal or constructive obligation to pay. ## 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis: |Heritage Assets|Not depreciated| |---|---| |Plant & Machinery|20% straight line| |Scientific and Test Equipment|20% straight line| |Fixtures and Fittings|20% straight line| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year. ## 1.7 Impairment of fixed assets At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## 1.8 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. ## 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## 1.10 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102: to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Page 15 ## 1 Accounting policies (Continued) ## Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## Derecognition of financial liabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. ## 2 Critical accounting estimates and judgements In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## 3 Donations ||Unrestricted|Restricted|Total|Total| |---|---|---|---|---| ||funds|funds||| ||2025|2025|2025|2024| ||£|£|£|£| |Donations and gifts|28,984|-|**28,984**|209,041| ||**28,984**|**-**|**28,984**|**209,041**| Page 16 ## 4 Resources expended |**Charitable activities**
Cost of operations
Premises and office costs
Administrative expenses
Bank charges
Donations
**Fundraising Costs**
Advertising & marketing
**Governance Costs**
Legal and professional fees
**Other**
Depreciation
**Total Resources expended**
**Analysis by fund**
Unrestricted funds
Restricted funds|**Charitable**
**expenditure**
**2025**
£
23,528
1,752
782
174
328
**26,564**
272
**272**
871
**871**
41,942
**41,942**
**69,649**
34,333
35,316
**69,649**|**Charitable**
**expenditure**
**2024**
£
30,361
781
704
142
200| |---|---|---| |||**32,188**| |||106| |||**106**| |||893| |||**893**| |||39,728| |||**39,728**| |||**72,915**
37,599
35,316| |||**72,915**| Legal and professional fees includes £800 (2024 - £800) for financial statements preparation and independent examination of which £300 relates to independent examination (2024 - £300). ## 5 Trustees None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year. ## 6 Employees The average monthly number of employees during the year was NIL (2024 NIL). Page 17 ## 7 Tangible fixed assets |**Cost**
At 01 June 2024
Additions
At 31 May 2025
**Depreciation**
At 01 June 2024
Charged in the year
At 31 May 2025
**Carrying amount**
At 31 May 2025
At 31 May 2024|**Heritage**
**Assets**
**£**
369,885
500
370,385
-
-
-
**370,385**
369,885|**Plant &**
**Machinery**
**£**
174,443
11,070
185,513
121,978
37,103
159,081
**26,432**
52,465|**Scientific and Test**
**Equipment**
**£**
21,911
-
21,911
17,529
4,382
21,911
**-**
4,382|**Fixtures and**
**Fittings**
**£**
2,285
-
2,285
1,371
457
1,828
**457**
914|**Total**
**_£_**
568,524
11,570| |---|---|---|---|---|---| ||||||580,094
140,878
41,942| ||||||182,820| ||||||| ||||||**397,274**| ||||||| ||||||427,646| ## 8 Debtors |**Amounts falling due within one year**
Gift Aid
VAT|**2025**
**2024**
**£**
**£**
4,060
-
4,029
3,323| |---|---| ||**8,089**
**3,323**| 9 Creditors: amounts falling due within one year |**Amounts falling due within one year**
Accruals
HMRC Gift Aid
Director's current account (note 12)|**2025**
**2024**
**£**
**£**
1,920
960
12,250
12,188
61,601
62,895| |---|---| ||**75,771**
**76,043**| Page 18 ## 10 Movement in funds |Restricted funds
Unrestricted funds
**Total funds**|**Fund**
**balances**
**brought**
**forward**
**£**
78,428
287,656
**366,084**|**Incoming**
**resources**
**£**
-
35,671
**35,671**|**Outgoing**
**resources**
**£**
(35,316)
(34,333)
**(69,649)**|**Fund**
**balances**
**carried**
**forward**
**£**
43,112
288,995| |---|---|---|---|---| |||||**332,107**| ## 11 Analysis of net assets between funds |Fixed assets
Current assets
Current liabilities
**Total funds**
Fixed assets
Current assets
Current liabilities
**Total funds**|**Restricted funds**
**2025**
**£**
126,082
-
(61,601)
**64,480**
**Restricted funds**
**2024**
**£**
161,398
-
(47,970)
**113,428**|**Unrestricted funds**
**2025**
**£**
271,193
10,604
(14,170)
**267,627**
**Unrestricted funds**
**2024**
**£**
266,248
14,481
(28,073)
**252,656**|**Total**
**2025**
**£**
397,274
10,604
(75,771)| |---|---|---|---| ||||**332,107**| ||||**Total**
**2024**
**£**
427,646
14,481
(76,043)| ||||**366,084**| ## 12 Related party transactions During the year a payment of £1,294 was made to Jonathan Gill as part repayment of the outstanding balance of the director loan to the company. The remaining balance on the director loan account is £61,601. Page 19